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One Similarity Between a Monopolist and a Perfectly Competitive Firm

Question 10

Multiple Choice

One similarity between a monopolist and a perfectly competitive firm is that both


A) are large relative to their markets.
B) may have similarly shaped cost curves.
C) choose the price at which to sell their product.
D) can make economic profits in the long run.
E) need to know the shape of the market demand curve.

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